Tesla customers could lose thousands in tax credits next year
Amazon's Prime Day shopping event now open to members in Singapore
Bali shuts airport after volcanic eruption
Tesla sues ex-employee alleging data theft, leaks to media
With Billions At Stake, Supreme Court Rules States May Tax Online Retailers
Cryptocurrency Market Plunges In Wake of S Korean Regulatory Crackdown
11 January 2018, 12:28 | Vera Richards
Finance: Here's why cryptocurrencies are getting smoked on Monday
Bitcoin was one of the currencies to sink when CoinMarketCap, one of the industry's most prominent global indexes, carried out the move without any warning, resulting in a steep drop in all virtual coins they track.
Rippleprices fell roughly 25% Monday to $2.50, leading a broader sell-off in the cryptocurrency markets.
'Every crypto is priced at a 30 percent premium in South Korea, ' said Greg Dwyer, head of business development at cryptocurrency derivatives exchange BitMex.
Observers increasingly are questioning the value of various cryptocurrencies, and the 20% plunge in Ripple on January 8 shows that significant risk exists. That pushed Ripple's market capitalization down to $98.5 billion, and lifted Ethereum's value to $111.9 billion, according to data firm CoinMarketCap.
XRP is down 11% over the last 24 hours, while bitcoin and ethereum are down 7% and 2%, respectively.
The Cboe futures contract for January had hit an intraday low of $14,560, before recovering to $15,040 at the time of writing.
On Monday, South Korean regulators inspected six local banks that offered cryptocurrency accounts to see if they were observing anti-money laundering rules. Ripple is now trading at around $3.30 on the three platforms, well above the market average compiled by Coinmarketcap.
Then, CoinMarketCap, a major source of information in the crypto world, made a decision to remove data from South Korean exchanges in its calculation of asset prices.
Say Hello To LG's Most Affordable 4K HDR Projector
Nevertheless, all the information about this awesome projector is anticipated to be revealed during its announcement at CES 2018. Unfortunately, the same can't be said of the sound quality given the two puny 7W speakers that the setup accommodates.
Cryptocurrency prices tend to be much higher on South Korean exchanges because of huge demand and monetary restrictions in that country, analysts said.
Cryptocurrencies trade at a premium in South Korea because "it's very hard to get cash out of the country", Dwyer explained.
The year 2017 may forever be known on Wall Street as the year of bitcoin.
"You can look at it two ways and say Coinmarketcap taking Korean prices out of their averages makes the performance of bitcoin and cryptos look worse than they otherwise would, [but] the flip side is that in the past they weren't reporting them accurately".
Four policemen killed in Sopore IED blast
Mehbooba's predecessor and opposition NC leader Omar Abdullah wrote on Twitter: "Very sad news from #Sopore". A police officer told IANS that the injured were shifted to the hospital and a search operation is underway.
Trump to attend WEF gathering in Davos
The first sitting U.S. president to appear in Davos was Bill Clinton in 2000, at the forum's 30th anniversary session. She added that Trump wants to promote his policies for strengthening American businesses, industries and workers.
Indian state leaves 13 million citizens off register
National Register of Citizens (NRC) state coordinator Prateek Hajela releases the first draft of NRC in Guwahati , on Monday. Assam has been driven into a conflict between the permanent residence and those who have migrated from Bangladesh.
Bannon Issues Apology for Attack on Trump's Son
Wolff told NBC News' " Meet the Press " that he did not violate off-the-record agreements with the Trump aides. Tapper said that Miller was dodging his questions and performing for "an audience of one" - Trump.